Writing off the investment in Africa's largest economy will see the food company's earnings half of that achieved in the previous financial year.
Drought in some key maize-growing regions has curbed output, and maize is being imported for the first time in 22 months as a result.
Margins of the country's largest food and household goods company have been under pressure as consumers have spent less over the past financial year.
"All relevant factors" were considered before Noel Doyle's reappointment, says Tiger Brands.
Foodcorp has been fined R88.5-million for price fixing and creating a cartel, according to the Competition Commission.
Companies have defended their money management strategies after Finance Minister Pravin Gordhan lashed out over lack of investnment.
Consumers want their maize meal and flour to be white, even though this makes them less healthy.
Judgment has been reserved in an appeal case by organisations against a decision to deny them a class action lawsuit against major bread companies.
It may no longer be business as usual for South African companies operating in Zimbabwe.
The market is unfazed by Pioneer Foods's R1-billion fine, with Pioneer's share price hitting a 52-week high.
Pioneer Foods was told it has to reduce the sale price of bread and flour products as part of a R1,05-billion settlement for price-fixing.
Tiger Brands on Tuesday reported a 7% rise in first-half headline earnings and said it expects profit for the full year to rise.
Tiger Brands said on Tuesday it plans to open up an additional 10% of its shares to black shareholders to boost black ownership in the group.
Tiger Brands has reported an 8% rise in first-half headline earnings per share (EPS) from continuing operations.
Tiger Brands posted a 36% rise in full-year headline earnings per share from continuing operations and forecast real profit growth in the year ahead.
Coronation Fund Managers, a major shareholder in AVI, has agreed to back any takeover bid for the consumer goods firm by Tiger Brands, it says.
The country's second-largest food company, AVI, is not in talks with Tiger Brands, the largest food company in South Africa.
Tiger Brands may make an R8-billion cash-and-shares offer for AVI to create a South African food and consumer goods heavyweight.
Tiger Brands will facilitate the largest empowerment deal so far in the country's fishing industry, the food company said on Friday.